Earnings Results
Lending company signals it’s making progress on funding initiatives
Upstart Chief Executive Dave Girouard said that Upstart “expanded [its] roster of institutional partners” that will help it deliver offers.
Upstart
Shares of Upstart Holdings Inc. rocketed 40% higher in after-hours trading Tuesday after the beleaguered financial-services company delivered an upbeat outlook for the current period even as its revenue for the latest quarter came in at a third of what it was a year before.
Upstart UPST, which uses artificial intelligence to inform lending decisions, has struggled in recent quarters as it’s had to price its loans at higher rates, a dynamic that has dampened demand. Additionally, it’s disclosed challenges as its funding partners…
